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TMP Worldwide Says Profit Doubled

Updated Feb. 20, 2002 12:01 a.m. ET

TMP Worldwide Inc., operator of the popular Monster.com job Web site, said its profit nearly doubled in its fourth quarter despite a 14% drop in revenue. Net income rose to $17.9 million, or 16 cents a share, from $9 million, or eight cents a share, a year earlier. The increase was helped by a 16% drop in salaries and related expenses. Excluding $10.5 million in merger and integration costs, TMP said it would have earned 24 cents a share, matching the consensus estimate of analysts surveyed by Thomson Financial/First Call. Year-earlier earnings excluding those costs would have been 31 cents a share. Revenue fell to...